AIG Names McElroy from Arch as CEO of Lexington Insurance Co.

96

American International Group Inc. announced that David H. McElroy will join the company as chief executive officer of Lexington Insurance Co. at a date to be determined.

McElroy will lead Lexington Insurance Co. and report to Peter Zaffino, chief executive officer, General Insurance. McElroy will serve as a member of the General Insurance executive leadership team and will oversee all aspects of Lexington’s business, the largest excess and surplus (E&S) underwriter in the United States, AIG said in a statement.
McElroy will also oversee General Insurance’s program work in the US. This program consists of a series of niche markets written on both accepted and unacceptable bases, supported by program managers with market leader infrastructure and subtitle expertise.

McElroy replaced George Stratts, who served as CEO of Lexington Insurance Co. from November 2017 to June 2018. Prior to that, Jeremy Johnson served as chairman and CEO of Lexington Insurance Co. from February 2013 to December 2017 and served as US commercial president. From February 2016 until December 2017. Stratts and Johnson seem to have left the AIG.

Throughout his career, McElroy has served as the chairman of Arch Insurance Group Inc. and the Arch Worldwide Insurance Group (since October 2017) has a number of leadership roles in the insurance industry, including vice president roles.

Previously, from September 2012 to September 2017, he served as president and CEO of Arch Worldwide Insurance Group as managing director of Arch Capital Group Ltd. (ACGL). From July 2012 to September 2017, he served as president and CEO of Arch Insurance Group.

According to his biography on the Arch Capital Group website, he joined Arch Insurance Group in 2009 as president of the Financial and Professional Responsibility Group, which consists of executive assurance, professional responsibility, bail and health services.

Prior to joining Arch Insurance Group, McElroy took part in Hartford Financial Services Corp., Reliance National and Chubb, where he began his career. B.A. and graduated from Temple University. business Administration
“I look forward to working with Peter and his leadership team to join the AIG General Insurance as Lexington’s CEO and to restore Lexington to its position as a leader in the industry with overloaded and overloaded lines,” McElroy said.

Legal warning !
The information, comments and suggestions there are not covered by investment advice. It is based on the author's personal opinions. These views may not fit your financial situation and risk and return preferences. For this reason, based solely on this information, investment decisions may not have the appropriate consequences for your expectation. Our Site is not responsible for any direct or indirect damages incurred by the investors as a result of the use of the information on the Site, deficiencies in the sources, damages incurred by profit, moral damages, or damage to third parties.